Quaterly & Monthly & Weekly & Daily Support&Resistance

The Quaterly & Monthly & Weekly & Daily Support&Resistance [LM] indicator plots key historical high and low levels from multiple higher timeframes to identify natural support and resistance zones and ranges.

Usage

This tool is designed to help traders identify significant price levels that often act as inflection points. By visualizing previous highs and lows from Quarterly, Monthly, Weekly, and Daily periods, users can identify:

• Range Extremes: The high and low of a previous period often define the boundaries of the current trading range.
• Confluence Zones: When multiple timeframe levels (e.g., a Weekly High and a Monthly High) align in the same area, the resistance or support is typically considered stronger.
• Bounce Points: Traders can look for price action reversals or "bounces" when the current price interacts with these historical levels.

The indicator allows for up to four previous periods to be displayed for each timeframe (e.g., the last 4 months), providing a comprehensive view of historical market structure.

Details

The indicator utilizes request.security to fetch data from higher timeframes and calculates the high/low ranges for the following periods:

• Quarterly: Calculated based on 3-month blocks using weekly data to determine the range.
• Monthly/Weekly/Daily: Directly references the previous high and low values for the specified number of lookback periods.

Horizontal lines are projected forward using the trackprice parameter, ensuring that the relevant levels remain visible on the right side of the chart even as new bars form.

Settings

General settings

• Label Offset: Adjusts the horizontal position of the text labels.
• Show Labels: Toggles the visibility of the text identifying each level (e.g., "Q High 1").

Timeframe Settings (Quarterly, Monthly, Weekly, Daily)

Each timeframe group contains the following:

• Show S/R (Period 1-4): Individual toggles to display the high and low levels for the specific historical period (e.g., Month 1 is the most recent completed month).
• S/R lines color: Customizes the color for all lines within that specific timeframe category.

FAQ

How do I access Quaterly & Monthly & Weekly & Daily Support&Resistance [LM]?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I show levels for only one specific timeframe?

Yes, you can enable or disable any specific timeframe (Quarterly, Monthly, Weekly, or Daily) and even specific lookback periods (1-4) within the settings menu.

Why are the lines only showing on the right side of my chart?

The indicator uses price tracking to project these historical levels forward. This keeps the chart clean while ensuring you always see the most relevant support and resistance levels relative to the current price.